Weekly Toluene Report 18th December 2020

Weekly Price Trend: 14-12-2020 to 18-12-2020

• Domestic prices remained firm stable to firm for this week. As the week proceeded further there was slowdown in values in Indian domestic market. By end of the week prices were assessed the level of Rs.51/Kg for this week.
• By end of this week prices were assessed at the level of Rs.51/Kg, for both the ports. Prices have been floating in the range of Rs.51-54/kg for this week.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market price was assessed at Rs.51/Kg for bulk quantity for Kandla and for Mumbai port. Domestic prices stable to firm for this week.
• CFR India prices were evaluated at USD 545-565/MT for this week. Prices remained unchanged for this week. FOB Korea values for Toluene was assessed around USD 485-505 for this week. Prices increased slightly by USD 5/MT for this week. On other side CFR China prices were assessed around USD 480/MT for this week.
• CFR SEA prices were assessed around USD 500/MT for this week.
• FOB Korea values for Benzene were assessed in the range of USD 638-658/MT, increased by USD 23/MT for this week. Despite of increasing Benzene prices, Toluene values remained stable for this week. Earlier there was continuous rise in Toluene prices due to strengthening of Benzene and crude prices. CFR China values were assessed in the range of USD 635/MT.
• Domestic prices of Toluene were assessed at the level of Rs.51/Kg for this week.
• Crude oil prices are on the rise again after a short reversal of fortunes prompted by a huge crude oil inventory build reported by the U.S. Demand from China and India has been on its toes. China has been the main driver of oil prices this year because of its massive refining capacity and growing storage capacity. 
• Both countries are boosting their refining capacity in the meantime. China is already on track to surpass the United States as the world’s biggest oil refiner next year or the year after. Last year, it added some 1 million bpd to existing capacity, and there is another 1.4 million bpd of capacity under construction. 
• India, too is in this running race of boosting it own capacity. In November, Prime Minister Narendra Modi surprised many when he said there were government plans to increase the country’s refining capacity twofold over the next five years. Earlier this year, Modi had said the plan was to double India’s refining capacity over ten years, but strong demand must have made the government reconsider the timeline. Currently, India has a refining capacity of 250 million tons, or a little more than 5 million bpd, based on a conversion factor of 7.33 barrels per metric ton of oil. 

$ 1 = Rs. 73.55

Import Custom Ex. Rate USD/ INR: 74.45                                            

Export Custom Ex. Rate USD/ INR: 72.75